The present disclosure relates generally to systems and methods of financial management and, more specifically, to systems and methods for simple interactive financial categorization and budgeting.
Individuals often rely on computer-based systems to manage their personal finances. Conventional personal financial management systems include software and internet-based systems. Certain systems allow users to create budgets and to categorize transactions into various budget categories. However, many systems are cumbersome and difficult to use. For example, conventional systems often have ten or more categories to which users can assign budgets and categorize transactions. Users are often overwhelmed by the many categories that are available and cannot keep track of budgets associated with each of the many categories. In addition, identifying and categorizing each transaction may require a series of steps and menus, which may be difficult and/or intimidating to certain users. Thus, there is a need for a simplified personal financial management system to categorize transactions and manage budgets.